Thursday, February 28, 2008

Lehman to Trade Kyoto Carbon Credits in Japan (LEH)

Did Lehman drop out of the U.S. Climate Action Partnership? Here's the USCAP website.If so, you read it first at CI.Here's the LEH/Japan story from Reuters:

Lehman Brothers (LEH.N: Quote) said on Tuesday it would start trading U.N.-approved carbon credits in Japan, the first global investment bank to do so amid growing demand for companies to cut greenhouse gas emissions.

Japanese companies, including trading houses and utility firms, have been buying such credits for some time in return for funding clean-energy projects in developing countries under the Kyoto Protocol's Clean Development Mechanism.

Lehman Brothers is one of nearly 100 companies that have opened accounts at Japan's national registry for the United Nations' emission-trading system.

Lehman Brothers' global carbon trading operations are now based in London. In Europe a cap-and-trade system with mandatory emissions limits has encouraged trading of emission permits under the European Union's Emissions Trading Scheme....MORE